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and it's estimated to reduce the deficit by $3.3 trillion. remember, we're trying to hit $4 trillion. so we're getting closer. the plan ends tax loopholes for yachts and for jets. it reduces the corporate meal and entertainment deduction to 25%. you can't write off the whole dinner anymore. it ends fossil fuel subsidies for oil companies that are raking in massive profits. exxonmobil, you know what their profit was? $44 billion in 2012. the last thing they need right now is your tax dollars as subsidy. the balancing act also closes other pointless loopholes the rich take advantage of. we should point out mitt romney ran on a similar tax plan. his former running mate paul ryan should love the balancing act because it reduces the deficit. everyone inside the beltway considers mr. ryan just a very serious person. but here is how paul ryan wants to reduce the deficit, with nothing but cuts. and here is the balanced approach from the progressive caucus. you know, when we need budget advice in the future, i think we should kind of push paul ryan of
and it's estimated to reduce the deficit by $3.3 trillion. remember, we're trying to hit $4 trillion. so we're getting closer. the plan ends tax loopholes for yachts and for jets. it reduces the corporate meal and entertainment deduction to 25%. you can't write off the whole dinner anymore. it ends fossil fuel subsidies for oil companies that are raking in massive profits. exxonmobil, you know what their profit was? $44 billion in 2012. the last thing they need right now is your tax dollars as...
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Feb 11, 2013
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[applause] if you look at what is happening here, it is true that the deficit are going to be below $1 trillion for the first time in several years. and it is true that the new revenues raised in spending that you did not do. it is true that the economy is beginning to grow again. but this is almost like the reverse of what we did in 1993. that is, i was prickly well aware if we raise taxes and cut spending, it could have a dragging effect in the economy. but not nearly as much as spending 40% of the budget paying interest on the debt. not nearly as much as having low growth. at nearly as much as having interest rates that were too high. so our gamble was that the explosive the fact of lowering interest rates, with a booming bond market and having more disposable income over a 5 =-10 year period would more than offset putting the hammer down by raising more money and cutting spending. it turned out to be a good gamble, but it made sense. it will make sense here again. but timing is everything. and so, i think he should have a budget that does not defy our arithmetic but also, and doesn
[applause] if you look at what is happening here, it is true that the deficit are going to be below $1 trillion for the first time in several years. and it is true that the new revenues raised in spending that you did not do. it is true that the economy is beginning to grow again. but this is almost like the reverse of what we did in 1993. that is, i was prickly well aware if we raise taxes and cut spending, it could have a dragging effect in the economy. but not nearly as much as spending 40%...
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Feb 6, 2013
02/13
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we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama impor
we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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Feb 5, 2013
02/13
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under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next ten years u.s. debt will increase $10 trillion from a little more than 16 trillion-dollar now to more than $26 trillion in 2023. >> you can't raise enough tax to say pay for this problem. you won't grow fast enough to get rid of this problem. you ultimately have to deal with spending. >> after 2023, the debt begins to soar. >> after that it's going to grow and reach the trillion and go beyond the trillion. so at no point in the foreseeable future is the deficit going to come down to manageable level. >> noting repeatedly high debts are bad and dangerous as he put
under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next...
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Feb 10, 2013
02/13
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reduction that the least emphasized method of reducing the deficit, we talk about spending, we talk about revenue, growth, and he wants to emphasize that we need to make investments in infrastructure, in education, in manufacturing, in clean energy and we'll hear about that. >> and the cloud hanging over all of this is the fact that there is this discussion about, oh, what, two something weeks, the entire budget could be turned on its head with the sequestration. across the board cuts and two sides that seem as far apart as ever on this issue. that will have a real impact both on the politics of what is going on in washington, as well as the economy. >> i was struck by your interview with rand paul, the sequestration was a pittance. that's a lot of money and you have the defense secretary and john brennan, lots of people saying the sequestration is a threat to the nation's security at this point, and yet rand paul is calling this a pittance, a tea party response to marco rubio. there is this ideological pull. the threat of being primaried. interesting to see how far they are willing
reduction that the least emphasized method of reducing the deficit, we talk about spending, we talk about revenue, growth, and he wants to emphasize that we need to make investments in infrastructure, in education, in manufacturing, in clean energy and we'll hear about that. >> and the cloud hanging over all of this is the fact that there is this discussion about, oh, what, two something weeks, the entire budget could be turned on its head with the sequestration. across the board cuts and...
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. >>> plus, could legalizing marijuana help the deficit go to pot? new legislation would generate tens of billions of dollars in tax revenue. the congressman behind it all joins us to explain. do you ever have too much money? ♪ to grow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliable deliveries worldwide. fedex. ♪ they said go to school and be a college kid -- melissa: the student loan catastrophe we are seeing all around us, colleges and universities now suing graduates that aren't paying back their loans. the number of students defaulting on their perkins loans, though --
. >>> plus, could legalizing marijuana help the deficit go to pot? new legislation would generate tens of billions of dollars in tax revenue. the congressman behind it all joins us to explain. do you ever have too much money? ♪ to grow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better...
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Feb 12, 2013
02/13
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how do you square pro growth with cuts deficits now? that is the problem that republicans couldn't get their arms around in the last election, let's see if rubio can do it now. >> and let's see if he can come up with something new. >> big government, i think we've heard it. >>> coming up, the latest on the roadblocks against the violence against women act. karen finney will join us. keep tweeting your answers, coming up. why turbo? trust us. it's just better to be in front. the sonata turbo. from hyundai. did you know not all fiber is the same? citrucel is different- it's the only fiber for regularity that won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. it's gentle and clinically pryou know it can be hard to lbreathe, and how that feels.e, copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment
how do you square pro growth with cuts deficits now? that is the problem that republicans couldn't get their arms around in the last election, let's see if rubio can do it now. >> and let's see if he can come up with something new. >> big government, i think we've heard it. >>> coming up, the latest on the roadblocks against the violence against women act. karen finney will join us. keep tweeting your answers, coming up. why turbo? trust us. it's just better to be in front....
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Feb 6, 2013
02/13
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for instance, deficits are decreasing. however, all i ever hear from republicans is the president needs to get serious. from speaker john boehner. that's the best impersonation i can give you. >> it's not bad. >> wasn't very good, nothing personal. >> but dana, is that it? >> well, that was a little raspy, your john boehner. but i think you've captured the sentiment, more or less correctly. and yes, the cbo report shows that the deficit is shrinking. but it is also showing the efforts to shrink the deficit have taken away from growth and the economy. you can't have one of these things without the other. now, i think there's a fallacy in the first question you posed to jared. that is that republicans would be very upset if there were a double-dip recession in a political sense as rush limbaugh and others have stated, they may be in a stronger position if the economy goes back into recession. then the president and his majority party will be less powerful. so they actually have a political incentive. >> hang on a second, dan
for instance, deficits are decreasing. however, all i ever hear from republicans is the president needs to get serious. from speaker john boehner. that's the best impersonation i can give you. >> it's not bad. >> wasn't very good, nothing personal. >> but dana, is that it? >> well, that was a little raspy, your john boehner. but i think you've captured the sentiment, more or less correctly. and yes, the cbo report shows that the deficit is shrinking. but it is also...
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Feb 5, 2013
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inside the beltway, the media keeps pushing the president on debt and deficits. i'd like to know also, i don't think of the fundamental issues confronting this country. but on the gun issue, why wasn't there a single question about the 15-year-old chicago girl, haddia pendleton, who parked in the parade in the inauguration and was gunned down, the 42nd victim of gun violence in chicago in january. that might be relevant to the issue of how do you stop trafficking of illegal weapon, and relevant to the actual policy debates under way in this country. >> richard, why does inside the beltway media have a propensity to focus on things that people don't care about? >> look, i've been part of that press corps. i was there in the time in the run-up to the war in iraq. but as a pack, as a pack mentality, this is a game. look, the war in iraq was serious. don't get me wrong. but we're talking about kids in america who were killed and how to respond to that. and so, you know, the disjoint between this photo, what the president does in his leisure time, whether it's real or
inside the beltway, the media keeps pushing the president on debt and deficits. i'd like to know also, i don't think of the fundamental issues confronting this country. but on the gun issue, why wasn't there a single question about the 15-year-old chicago girl, haddia pendleton, who parked in the parade in the inauguration and was gunned down, the 42nd victim of gun violence in chicago in january. that might be relevant to the issue of how do you stop trafficking of illegal weapon, and relevant...
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Feb 7, 2013
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us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to close some tax loopholes and deductions that the average american cannot take advantage of, to raise the revenue, to actually do the job in a way that allows us to continue to grow. now, the reason this is relevant is because i gather and i haven't gotten this from first-hand sources, but from second hand sources in the press that our friends on the other side of the aisle,
us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to...
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melissa: and i don't think he is addressing the real issue which is how to cut the deficit and social security. melissa: lanny davis, what do you think, scale one to money? >> i think whatever the highest number is money that marco rubio will outperform expectations because david, television is not content. it is a visual media and he will be very visual. melissa: okay. all right. big cheese, neil cavuto, i will let you go last because your vote is the most important obviously. >> i wish that were true. i would agree with lanny. i will give him a four i think he will measure up. i think he was like secret superstar at republican convention. gave the best speech. very good, articulate, reasoned in his approach for almost any issue facing the country and certainly vexing republicans. he will deliver with some sound solutions that might surprise you. melissa: david stockman, lanny davis, neil cavuto thanks for making this the best power panel of all time. >> ever. melissa: catch neil cavuto's coverage starting 8:00 p.m. eastern. >>> according to "the new york times" the tesla model s sed
melissa: and i don't think he is addressing the real issue which is how to cut the deficit and social security. melissa: lanny davis, what do you think, scale one to money? >> i think whatever the highest number is money that marco rubio will outperform expectations because david, television is not content. it is a visual media and he will be very visual. melissa: okay. all right. big cheese, neil cavuto, i will let you go last because your vote is the most important obviously. >> i...
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Feb 10, 2013
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you've been worried about the deficit. what do you say to this argument that trying to reduce the deficits in europe has been a disaster? it's slowed growth, slowed tax reeve news and increased the deficit? >> let me just say i am not in favor of reducing the deficit now. the short term i am not in favor of reducing the deficit. but i do think there have to be some longer-term plans that give the financial markets some degree of confidence that we're not just going to blow apart. i think this is something on the longer term which is what bowles-simpson was all about, something which i favored totally. so i think that was a combination of including longer-term control over some of our big expenditures, particularly in health care. and that is something we have to do. i think the president could get some things if, in fact, he addressed some of these longer term issues but he walked away from that and there's no confidence that he really cares about it. >> let's talk about common -- noneconomic things. i would have thought y
you've been worried about the deficit. what do you say to this argument that trying to reduce the deficits in europe has been a disaster? it's slowed growth, slowed tax reeve news and increased the deficit? >> let me just say i am not in favor of reducing the deficit now. the short term i am not in favor of reducing the deficit. but i do think there have to be some longer-term plans that give the financial markets some degree of confidence that we're not just going to blow apart. i think...
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. >> goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs. >> top republicans including senator mcconnell already critical of the speech. >> i strongly suspect the white house will subject us to yet another campaign blitz. frankly, i could write the scripts myself and will be told the president's hands are tied by the sequester he proposed, signed and refuses to get rid of. >> we learned the president will make a major announcement of afghanistan announcing that 34,000 u.s. troops will return home from the region exactly one year from today. that's about half the troops there now. joining us now, maryland congressman chris van hollen, ranking member of the house budget committee. thank you for joining us. >> great to be with you, tamron. >> first, what are the expectations for the president tonight? >> well, i think as you said the president's going to lay out his plan for xik growth, for job creation but focusing on the fact it is not good enough just to have economic growth for the folks alr
. >> goals in manufacturing, energy, education, national security and the deficit. real achievable plans that will lead to new jobs. >> top republicans including senator mcconnell already critical of the speech. >> i strongly suspect the white house will subject us to yet another campaign blitz. frankly, i could write the scripts myself and will be told the president's hands are tied by the sequester he proposed, signed and refuses to get rid of. >> we learned the...
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how do you square pro growth with cuts deficits now? that is the problem that republicans couldn't get their arms around in the last election, let's see if rubio can do it now. >> and let's see if he can come up with something new. >> big government, i think we've heard it. >>> coming up, the latest on the roadblocks against the violence against women act. karen finney will join us. keep tweeting your answers, coming up. male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or a
how do you square pro growth with cuts deficits now? that is the problem that republicans couldn't get their arms around in the last election, let's see if rubio can do it now. >> and let's see if he can come up with something new. >> big government, i think we've heard it. >>> coming up, the latest on the roadblocks against the violence against women act. karen finney will join us. keep tweeting your answers, coming up. male announcer ] citi turns 200 this year. in that...
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we would replace that sequester with deficit reduction achieved over a longer time. >> you, in suburban maryland, represent a lot of people that would be directly affected if the sequester hits. do you think the administration is doing a good job of preparing federal workers and folks whose paychecks depend on what happens in the next few weeks for how it will work and how to plan their lives? >> we have been urging them to provide guidance to federal employees because as we get closer to the date there is more and more anxiety, understandably. they are trying to provide notice to employees about things that can be expected, but the problem is it affect each agency differently, so there is not one rule of thumb that will apply to every federal agency. part of the impact will depend on the extent to which employees make up most of the budget, as opposed to agencies that have more of a procurement budget or their budget is contracted out. i should emphasize that while it will hit federal employees and that is not good for anyone, that will hurt -- it will hurt around the country. let's ta
we would replace that sequester with deficit reduction achieved over a longer time. >> you, in suburban maryland, represent a lot of people that would be directly affected if the sequester hits. do you think the administration is doing a good job of preparing federal workers and folks whose paychecks depend on what happens in the next few weeks for how it will work and how to plan their lives? >> we have been urging them to provide guidance to federal employees because as we get...
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02/13
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everybody wanted -- he was there to talk about spending deficit and debt. everybody wanted to talk about gun control. almost to a person everyone said the only reason why the government wants me to go through background checks is so they know what background i have and how many guns i have so they can take my guns. that's what the perception is. >> there's a lot of paranoia. the there is no such plot a foot from anybody involved. of course the president is out of touch with the sport with the family traditions. that's why the picture was posted. >> here's a simple solution. all gun control ought to apply to everybody that includes the body guards anybody who works for the department or agency. if you don't think i need this or that weapon to protect my family you don't need yours. i am saying all americans are worth the same. my family is eerie bit as valuable as anybody else's family when he works in congress or the branch. >> we have to leave it there. stay tuned. we are going to tell you what it takes to accurately predict the outcome of a football game.
everybody wanted -- he was there to talk about spending deficit and debt. everybody wanted to talk about gun control. almost to a person everyone said the only reason why the government wants me to go through background checks is so they know what background i have and how many guns i have so they can take my guns. that's what the perception is. >> there's a lot of paranoia. the there is no such plot a foot from anybody involved. of course the president is out of touch with the sport with...
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i think for republicans they can't be the party of bob dole caring only about the deficit. they have to care about practical -- the reason you're so upset is you know it was a good speech. >> he went over to the aei, the number one war center, ths totally neocon. your thoughts. this is hopeless. i thought he'd admit the truth here today. >> it was pa joring to hear some of that -- >> hasn't he been the guy standing behind boehner's back waiting to trip him over because he's been too moderate. >> no question. he's been standing off center stage waiting for his opportunity to become speaker. i thought that there was a lot of practicality in the speech but not any big ideas. i think -- >> it was like sundries and knowings in a drugstore. little items, like telling colleges they got to tell people what employment prospects there are for english majors. what's that about? cantor -- let's take a look. he took a approach that the university education should be more like a vocational school, a school you can learn a trade. he suggested kids be told by colleges what major earn the m
i think for republicans they can't be the party of bob dole caring only about the deficit. they have to care about practical -- the reason you're so upset is you know it was a good speech. >> he went over to the aei, the number one war center, ths totally neocon. your thoughts. this is hopeless. i thought he'd admit the truth here today. >> it was pa joring to hear some of that -- >> hasn't he been the guy standing behind boehner's back waiting to trip him over because he's...
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white house says that every one of the president's proposals will be paid for and will not add to the deficit, and of course, it is how he pays for it that is going to be the debate point. after his tuesday night speech, president obama hits the road for a three-day tour, and stops in asheville, north carolina, wednesday and atlanta on thursday and chicago on friday. and here's what we will make the state of the union different than other presidential addresses to congress. it won't just frame the coming year, but the budget battles to take place in the next three to six weeks. it starts with the $85 billion in budget cuts coming march 1st if nothing is done to alter the so-called sequester. according to the white house, the president will continue to press congress on the fiscal issues with tax reform and tax hikes and entitlements and he previewed that message in his weekend. >> there is no reason that middle-class families and small businesses should suffer because washington could not come together and eliminate a few special interest tax loopholes or government programs that just don't w
white house says that every one of the president's proposals will be paid for and will not add to the deficit, and of course, it is how he pays for it that is going to be the debate point. after his tuesday night speech, president obama hits the road for a three-day tour, and stops in asheville, north carolina, wednesday and atlanta on thursday and chicago on friday. and here's what we will make the state of the union different than other presidential addresses to congress. it won't just frame...
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Feb 7, 2013
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it means that we're going to talk about, yes, deficits and taxes and sequesters and potential government shutdowns and debt ceilings. we'll talk about that stuff. all from the perspective of how are we making sure that somebody who works hard in this country, a cop or a teacher, or a construction worker or a receptionist, that they can make it if they work hard. and that their kids can make it. and dream even bigger dreams than they have achieved. and obviously, a lot of what we'll be working on michellely over the next few weeks is going to be on how do we deal with the sequester issue, and i just want to make this quick point. i had a press conference this week in which i reiterated i am prepared, eager, and anxious to do a big deal, a big package that ends this governance by crisis for every two weeks or every two months or every six months. we are threatening this hard won recovery where finally housing is starting to pick up and commercial real estate is starting to do better and the unemployment numbers are still too high, but we're seeing some job growth and businesses are investi
it means that we're going to talk about, yes, deficits and taxes and sequesters and potential government shutdowns and debt ceilings. we'll talk about that stuff. all from the perspective of how are we making sure that somebody who works hard in this country, a cop or a teacher, or a construction worker or a receptionist, that they can make it if they work hard. and that their kids can make it. and dream even bigger dreams than they have achieved. and obviously, a lot of what we'll be working...
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Feb 11, 2013
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as does the same. >> to see it and collect and the series is by cutting the deficit. these are to be touched or more spending and to continue down the road spending cuts. melissa: they do for that wrapup. we appreciate it. let's turn to today's market moments. debt stocks dipped into negative territory. losses in energy help lead to decline. the major indices each posted slight losses next on "money," it's not easy steps is the president. dr. ben carson may have done just that. he sure of the health care system instead tax-loss with president obama just a few feet away. dr. carr says your to give us his vision for a better fiscal future. plus, you may know your credit score, but it could be dead wrong. turns out tens of millions of credit reports of bears. >> "money" coming up. i'm a conservative investor. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my instments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose isha
as does the same. >> to see it and collect and the series is by cutting the deficit. these are to be touched or more spending and to continue down the road spending cuts. melissa: they do for that wrapup. we appreciate it. let's turn to today's market moments. debt stocks dipped into negative territory. losses in energy help lead to decline. the major indices each posted slight losses next on "money," it's not easy steps is the president. dr. ben carson may have done just that....
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it will not add a dime to the deficit. >> and what about cutting the deficit? jean spurling told joe scarborough that the president knows that he has to propose something. he has to make some proposals on entitlements. is he going to be that specific tonight? >> well, he has a specific -- we have a proposal that is on the table from the fiscal talks that we had with congress that has spending cuts that does do some entitlement reforms as well as raising revenue by closing loopholes to the -- that's still very much on the table. the president thinks, well, we think creating jobs -- he definitely thinks he is committed to deficit reduction and thinks that this is a drag on the economy too. if we don't deal with it and he is very committed to wanting to do it. we need a partner as some people like to say in december, and so we need a congress that's willing to work with us, but we do think that while congress is working on the larger piece that they should turn off the sequester for a few months, whatever time is needed in order to work on this bigger project, and
it will not add a dime to the deficit. >> and what about cutting the deficit? jean spurling told joe scarborough that the president knows that he has to propose something. he has to make some proposals on entitlements. is he going to be that specific tonight? >> well, he has a specific -- we have a proposal that is on the table from the fiscal talks that we had with congress that has spending cuts that does do some entitlement reforms as well as raising revenue by closing loopholes...
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told reporters off camera that the president doesn't have the guts to make tough choices about the deficit because he won't take on the liberals in the democratic party. >> another litany of left wing proposals with plenty of meat for the base. >> reporter: he will discuss spending cuts, but it will be gun control that will likely sparkt emotional moments. attending as a special guest of the first lady, the parents of the chicago team who was gunned down just days after she evidence at the inauguration and nearly three dozen people personally affected by gun violence. the president is expected to announce anyone one year -- that one year from tonight, 33,000 troops will be home from afghanistan. >> you can catch the state of the union address right here on abc2 at 9:00. >> right after the president's address will come the opposition response. republican senator marco rubio and rand paul are expected to speak. rubio will talk about the president's plan on immigration reform and paul said his response will be different. >> there will be things i will emphasize that maybe marco doesn't. >> no
told reporters off camera that the president doesn't have the guts to make tough choices about the deficit because he won't take on the liberals in the democratic party. >> another litany of left wing proposals with plenty of meat for the base. >> reporter: he will discuss spending cuts, but it will be gun control that will likely sparkt emotional moments. attending as a special guest of the first lady, the parents of the chicago team who was gunned down just days after she evidence...
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Feb 10, 2013
02/13
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KQED
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. >> evan, according to the congressional budget office, the deficit is shrinking and will continue for a while, but it will increase later because of an aging population and expansion of federal subsidies. cbo is predicting that by 2023, ifs continue -- if current laws continue, it will be on an upward path and tell that to your children and grandchildren. >> paul krugman has convinced a lot of my liberal friends that it is okay to kick this down the road. >> he actually used those words. >> terrible idea. it courts all kinds of disasters. sounded -- the interest rate spikes. it takes a long time to fix these problems. sequestration is a crude, ugly tool, but if it had the effect of making people get serious about entitlement reform, it would not be so bad. >> colby, what do you think? >> going back to charles' column, he says that it is the first time since the election the president obama has been on the defense. i don't think that is true. i agree with mark on this, that republicans will bear the brunt of this initially because they are seen as the obstructionists. looking at it in
. >> evan, according to the congressional budget office, the deficit is shrinking and will continue for a while, but it will increase later because of an aging population and expansion of federal subsidies. cbo is predicting that by 2023, ifs continue -- if current laws continue, it will be on an upward path and tell that to your children and grandchildren. >> paul krugman has convinced a lot of my liberal friends that it is okay to kick this down the road. >> he actually used...
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Feb 9, 2013
02/13
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WETA
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tell that to your kids and grandchildren. >> i am a boring deficit hawk, i say the same thing over and over again. paul krugman has convinced a lot of my liberal friends that it is okay to kick the can down the road. >> he actually used those words. >> terrible idea. it? all sorts of disasters. sudden interest -- it courts all sorts of disasters. it takes a long time to fix these problems. sequestration is a very crude, ugly tool, but if it actually has the effect of making people get serious about entitlement reform and tax reform, it would not be so bad. >> colby, what do you think? >> going back to charles' column, he said this the first time since the election the president obama has been put on defense. i don't think that is true. i agree with mark, the republicans will bear the brunt of this initially, because they will appear to be the obstructionists. looking at it in sheer political terms is the wrong way to look at this. this would have merkel implications if the economy tanks as a result of this -- global implications if the economy tanks as a result of this. >> you think th
tell that to your kids and grandchildren. >> i am a boring deficit hawk, i say the same thing over and over again. paul krugman has convinced a lot of my liberal friends that it is okay to kick the can down the road. >> he actually used those words. >> terrible idea. it? all sorts of disasters. sudden interest -- it courts all sorts of disasters. it takes a long time to fix these problems. sequestration is a very crude, ugly tool, but if it actually has the effect of making...
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Feb 10, 2013
02/13
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WJLA
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tell that to your kids and grandchildre >> i am a boring deficit hawk o this, i say the same thing over and over again. ul krugman ishas coconvinced a lot of my liberal friends that is okay to kick the can down the road.. >>>> he actually used those words. >> terrible idea. it courts all sorts of disasters. cited interest rate spikes -- it could haen overnight. it takes a long time to fix these problems. we have got to start on it now. sequestration is a cde, ugly tool. but if it has the effect of making people serious about entitlement and tax reforms, it would not be so bad. >> colby, what do you think?k? >> going back to charles' column, he says that this the first timeme since the election that presint obama has been put on defense. i don't think that is true. i agreree with m mark the republicans will bear the brunt of it ininitially, because they would be the obstructionists. looking at it and share political terms -- this h has cooool implications. -- global implications. >> nina, you think the american people are getting fed up with this? it has been going on for years. >> and m
tell that to your kids and grandchildre >> i am a boring deficit hawk o this, i say the same thing over and over again. ul krugman ishas coconvinced a lot of my liberal friends that is okay to kick the can down the road.. >>>> he actually used those words. >> terrible idea. it courts all sorts of disasters. cited interest rate spikes -- it could haen overnight. it takes a long time to fix these problems. we have got to start on it now. sequestration is a cde, ugly tool....
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Feb 11, 2013
02/13
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KNTV
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why this nobel prize winner says the deficit doesn't matter now and why the government needs to spend even more money. >>> he ran two of the nation's largest and most important companies and turned around general motors. i'll talk lessons learned, the state of american business and the future with ed whitacre. >>> and bling, if you've got the cash, they've got the jewels. the perfect valentine's day gift if you have deep pockets. jewels, anyone? "on the money" begins right now. >> this is america's number one financial news program, "on the money." now, maria bartiromo. >> here's what's making news as we head into a new week "on the money." it is the u.s. government versus standard & poor's. the most aggressive move yet by the justice department to hold accountable a financial company at the center of the financial melt down of 2008. the $5 billion civil suit charges s&p intended to defraud investors, aaa ratings they did not deserve. standard & poor's' attorney says not so farst fast. >> the ratings that were issued were believed by the people who issued them and that's what the gove
why this nobel prize winner says the deficit doesn't matter now and why the government needs to spend even more money. >>> he ran two of the nation's largest and most important companies and turned around general motors. i'll talk lessons learned, the state of american business and the future with ed whitacre. >>> and bling, if you've got the cash, they've got the jewels. the perfect valentine's day gift if you have deep pockets. jewels, anyone? "on the money" begins...
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the deficit. this year it will be below a trillion dollars, that's what the pundits focused on and ignored the grim reality. in fact, our debt is headed toward the worst levels in post war america. worst, the economy will show a masly 1.4% growth. unemployment rise to 8%, stay at very high levels for years, and 7 million people will lose their health care coverage under obamacare. that came within hours of president obama's call for more tax increases on the rich and put off spending cuts. tax and spend, it lives on and so does our massive debt. reality check, "varney & company" is about to begin. [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. >> first up this wednesday morning, gas prices, yes, they are still on the rise. national average for regular up more than a penny, now at 3.54. just in the past month the price of gas spiked about 25 cents a ga
the deficit. this year it will be below a trillion dollars, that's what the pundits focused on and ignored the grim reality. in fact, our debt is headed toward the worst levels in post war america. worst, the economy will show a masly 1.4% growth. unemployment rise to 8%, stay at very high levels for years, and 7 million people will lose their health care coverage under obamacare. that came within hours of president obama's call for more tax increases on the rich and put off spending cuts. tax...
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Feb 10, 2013
02/13
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WBFF
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which is less than the projected deficit for the year. i mean, the bottom line, congresswoman, is, you cannot raise taxes enough to solve the deficit problem. >> nobody is saying that. we are saying it has to be balanced. now on the subject of the high end we are not talking about raising rates. we did that. reeliminated the high end tax cuts of the bush years which only increased the deficit, and didn't create jobs. we kept the low income tax cuts and the -- what we have in our proposal, that comes from our top democrat on the budget committee is to say we'll eliminate subsidy and it gives us a lot of money, eliminating subsidy for big oil. we also have the buffett rule which says all of the high income people will pay a minimum of -- -- >> raising tax on the wealthy. >> no, you are saying they should pay their fair share, which is 30%, which is lower than 39.6, which is the rate -- the bracket they are in. >> chris: but you say, if they have a deduction... >> take advantage of so many loopholes. >> chris: deductions on the books. the po
which is less than the projected deficit for the year. i mean, the bottom line, congresswoman, is, you cannot raise taxes enough to solve the deficit problem. >> nobody is saying that. we are saying it has to be balanced. now on the subject of the high end we are not talking about raising rates. we did that. reeliminated the high end tax cuts of the bush years which only increased the deficit, and didn't create jobs. we kept the low income tax cuts and the -- what we have in our proposal,...